Pre-close report does not match the Income Statement, or is incorrect

The pre-close report account balance values should match Income Statement values when run for the fiscal year. Here, the Pre-close report did not match the Income Statement when run for the same time period (entire fiscal year that is being pre-closed).

Article
Number:49712

Products:

General_Ledger

The Pre-close report will reflect account balances using both posted and not yet posted transactions that may exist in either sub modules or open journal entry batches.

An Income Statement can be filtered to include Not Yet Posted transactions or to only include posted transactions. If the account balances match when the Income Statement includes not yet posted transactions, this verifies that there are transactions out there affecting that account balance for the year that still need to be posted.